Yahoo was once the place for internet searches. Then along came upstart Google, led by 20 geniuses, and Yahoo ultimately dropped its search engine altogether. One of those shining stars was Marissa Mayer, who was just named CEO for the company she deposed. Whether she can pull Yahoo from its ongoing crisis is at issue. She is the fourth Yahoo CEO in four years.
Yahoo has never decided whether it wanted to be a media or a technology company. Carol Bartz, who took over the company in 2009, tried to do both -- unsuccessfully.
"Scott Thompson, who took over after Bartz, promoted media and content as Yahoo's key asset, while laying off thousands of employees to cut costs. Thompson also launched some odd crusades, including a Facebook patent battle that was quickly killed after his scandal-laden exit in April." (http://money.cnn.com/2012/07/17/technology/yahoo-earnings-mess/index.htm?source=cnn_bin) Thompson, it was found, embellished his academic credentials and was gone in four months. (http://money.cnn.com/2012/05/15/technology/yahoo-future/index.htm?iid=EL)
The company reported revenue of $1.1 billion last year, same as the last year and just short of Wall Street analysts' expectations.
"That's nowhere near the level of growth expected of one of the most-visited websites in the world.
Profit is going in the wrong direction: Yahoo earned $229 million during the quarter, down 4% from the same period a year ago.
"Despite all of its Web traffic, Yahoo's market value is basically on par with the value of its Asian assets. The rest of the Yahoo -- according to investors, anyway -- is more or less considered scrap." (http://money.cnn.com/2012/07/17/technology/yahoo-earnings-mess/index.htm?source=cnn_bin)
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